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Cardano "ADA" Technical Analysis | 18 June 2019

2019-06-18 09:33 am | Resource: Technical Analysis Section | No Views : 34

Cardano Cardano (ADA) during the second week of this month failed to break areas support 0.0776 $ due to the entry of the bear's intention.
Thus, the digital currency rebounded from these areas to breach $ 0.0866 and continued to rise towards the 0.097 area which failed to breach, thus falling towards the first support areas.
And during yesterday's trading fell from the areas of $ 0.0947 to break the trend line supported by the pressure of sellers during the morning.
Cardano "ADA" Technical Analysis | 18 June 2019
The digital currency Cardano (ADA), our neutral view now due to non-trading in a specific direction where it is, did not confirm the break of the bullish trend line on the 4 hour interval.
Technical indicators do not point to a specific trend, which supports our view at the moment.

Analysis of technical indicators of the digital currency Cardano:

The ADX indicator is currently neutral as a result of non-trading as trading below 20 pips is seen.
The simple moving average and the slow moving SMA are neutral at the moment due to lack of trading in a specific direction.
The index of the moment of the default MACD by the default signal turned down and was confirmed by breaking areas of $ 0.0905.

Outlook:

It is expected that, in case of digital currency break area of $ 0.0853, Cardano (ADA) may target $ 0.0799 level.
On the other hand, in the event of a Cardano (ADA) breach of $ 0.0944, the encrypted currency might target $ 0.1127.
Support: 0.0866- 0.0776- 0.0710
Resistance: 0.0970- 0.1011- 0.1127
Trend: neutral

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